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Versions numbers for LLMs don't mean anything consistent. They don't even publicly announce at this point which models are built from new base models and which aren't. I'm pretty sure Claude 3.5 was a new set of base models since Claude 3.

What do mean by "it's a 1.0" and "3rd iteration"? I'm having trouble parsing those in context.

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If Claude 3.5 was a base model*, 3.7 is a third iteration** of that model.

GPT-4.5 is a 1.0, or, the first iteration of that model.

* My thought process when writing: "When evaluating this, I should assume the least charitable position for GPT-4.5 having headroom. I should assume Claude 3.5 was a completely new model scale, and it was the same scale as GPT-4.5." (this is rather unlikely, can explain why I think that if you're interested)

** 3.5 is an iteration, 3.6 is an iteration, 3.7 is an iteration.

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